Follett Sells Off Baker & Taylor
Book and digital content distributor Baker & Taylor will now operate as a separate, privately owned entity. The company was sold off by its owner, Follett Corp., to a private investment group led by Amandeep Kochar, who previously served as general manager and executive vice president of Baker & Taylor.
Follett had acquired Baker & Taylor in April 2016., and the company offered no explanation for the divestiture, which comes just two months after the divestiture of its K–12 School Solutions Division. However, both Follett and Baker & Taylor indicated they expect a seamless transition for customers.
“Working together on a thoughtful transition, both Baker & Taylor and Follett Corporation are committed to ensuring this change is seamless for our customers, partners and team members,” Kochar said.
“This is a pivotal and exciting time for Baker & Taylor. As an independent entity, we look forward to leading with our expertise and legacy and advancing our technology-based services and products,” Kochar said.
Kochar will serve as president and CEO of Baker & Taylor. The rest of the management team will also be remaining in place. Related businesses will also be going with Baker & Taylor following the sale, including "Baker & Taylor Publisher Services, collectionHQ, Baker & Taylor UK and [Australian subsidiary] James Bennett," according to the companies.
Baker & Taylor was founded in 1828.